The Vanuatu Foreign Investment Board was established in 1998 by an Act of Parliament. Its major duty is to focus in the promotion of Foreign Direct Investment into the country and to provide a service to all foreign investors from inquiry to the operational stage or even beyond. The Act was reviewed and amended in 1999. The recent amendment was in 2000 which saw the name changed to Vanuatu Investment Promotion Authority (VIPA).

The VIPA Board performs the functions, exercise the powers and directs the affairs of VIPA.

Functions of the Board

The functions of the Board are to:

• Receive and appraise investment proposals in accordance with the VIPA Act
• Issue approval certificates to foreign investors in accordance with this Act; and
• Carry out any other functions conferred on it by the Act
  

Board Composition

The Board consists of the following:

• Director of Trades and Commerce
• Commissioner of Labour (Chairman)
• Principal Immigration Officer
• A person nominated by the Vanuatu Chamber of Commerce and Industry
• A representative of the Minister
• The Director of Lands
• The CEO who will be an ex-officio member
• Director General for Ministry of Finance and Economic Management
• The Director of Customs (Deputy Chairman)